9th Circ. Remands Mercury Backdating $29M Fee Award

Law360, New York (August 19, 2010, 2:21 PM EDT) -- A federal appeals court has thrown back a $29.4 million fee award to attorneys in the Mercury Interactive Corp. stock options backdating litigation, taking federal judges across the country to task for engaging in a scheduling practice the court said puts class members who object to the fees at a disadvantage.

Two of three judges on a panel in the U.S. Court of Appeals for the Ninth Circuit ruled Wednesday that Judge Jeremy D. Fogel of the U.S. District Court for the Northern District of California...
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